Egypt is home to one of Africa’s largest vehicle fleets, with over 6 million cars (80% are passenger cars) on its roads. According to this finding, most are used cars; their ratio to new vehicles is
Egyptian fintech Paymob, which enables merchants to accept digital payments online and in-store, announced today it has raised $50 million in Series B funding. PayPal Ventures, the global corporate ve
Per reports, Egyptians spend about 30% of their income on food in a $17 billion restaurant industry, one of the largest in Africa and the Middle East. Yet restaurants in this North African nation ope
The MENA region has about 400 million people with $500 billion in annual savings. But as a relatively young population, most of them have minimal equity market and investment exposure. Replicating the
On-demand delivery in the Middle East and North Africa is estimated to reach $47 billion by 2030. In its largest and fastest-growing economy, Egypt, many platforms operate in different segments of e-c
Two years ago, the African tech ecosystem saw newfound attention from global players that translated to the continent’s best year of receiving venture capital. From varying sources, it is estimated
Buy now, pay later (BNPL) offerings have existed for a long time, but increased in popularity as the pandemic made more people shop online and conserve cash. Though BNPL has taken off in most parts of
In 2019, Swedish coworking space and investment fund Norrsken Foundation announced the launch of its first entrepreneurship hub outside the Scandinavian nation in Rwanda. The center, located in Kigali
The market for food and grocery delivery across Africa and the Middle East is worth nearly $1 trillion. And Egypt, buoyed by a young and growing population, is a big market across both regions. Invest
Egyptian grocery delivery startup Appetito has raised $2 million in pre-Series A funding, the company confirmed to TechCrunch today. The round, which comes after the company’s $450,000 seed round in
Queen's Gambit Growth Capital, the women-led SPAC in charge of the deal, called Swvl 'a disruptive platform that solves complex challenges and empowers underserved populations.'
It’s been fascinating to watch the development of Eventtus, a startup I came across many years ago in my travels in the Middle East, finding them at the Rise-Up Summit in Cairo in 2012. Then, it was
There are more than 400 million Arabic speakers globally and that number isn’t slowing down anytime soon. Arabic, to most people, is a tough language even to those who speak it. According to Duo
Investment activities in Egypt continue to gain steam, not for startups only but also the funds backing them. Today, seed accelerator Flat6Labs announced the second close of its Egypt fund to support
Per a recent report by Bain & Co., e-commerce is expected to grow to $28.5 billion in MENA by 2022 from a 2019 value of $8.3 billion. Egypt, one of the most active e-commerce countries in the regi
Vezeeta, a healthcare platform operating in the Middle East and Africa, has raised a $40 Million Series D funding round led by UAE-based Gulf Capital, alongside further investment from existing Riyadh
Cairo-based startup MaxAB looks to optimize the supply-chain network for Egypt’s food and grocery retailers. The B2B e-commerce company raised a $6.2 million seed-investment co-led by Beco Capit
In July, French television company Canal+ acquired the ROK film studio from VOD company IROKOtv. Canal+ would not disclose the acquisition price, but confirmed there was a cash component of the deal.
Nairobi-based internet hardware and service startup BRCK and Egyptian ride-hail venture Swvl are partnering to bring Wi-Fi and online entertainment to on-demand bus service in Kenya. BRCK will install
Tunisia-based private equity firm Africinvest has teamed up with Cathay Innovation — the venture sub of Paris-based private equity firm Cathay Capital — to launch a new Africa tech fund wi
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